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on citi, bank of america and discover financial. is that move by one of the more famous financial bears, a sign of a new era for banks? >> walmart is once again the target of a "new york times" investigation. but does the paper add anything new and can the stock outperform just as it did last time. >> private equity firm server said it will sell the firearms conglomerate. is private equity talking about guns in the country. >> futures moving higher on optimism. the white house republicans rising above partisanship, getting closer to striking a deal on the fiscal cliff. we have the latest on not just the breakdown of this offer, but by the response of some key senators this morning. good morning. >> yeah, that's right, carl. we saw the offer come in late last night and now we're seeing reaction early this morning. let me walk you through first of all of what the president laid down on the table yesterday, starting with taxes. the president is proposing now $1.2 trillion in new revenue increases, tax increases on individual income. that's lower than his initial offer after the election of
come back, bank of america shareholders have big reasons to smile. stock's been on a tear, of course. diane olick with an exclusive with brian moynihan after the break. and facebook, will it add to the social network's rally or put an end to it. stay with "squawk on the street." the opening bell is in 5 1/2 minutes. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and
specialist tdd#: 1-800-345-2550 will help you get started today. >>> look at shares of bank of america. 1015 is where it is trading right now. firmly above $10 mark. watch for a firm close above 10 and that will give them hope that perhaps they can stay and go higher at this point. watching the stock along with other bank stocks off of news from citigroup. citi laying off 11,000 people. >> starbucks card for the 1% has arrived. at least that is what some are calling the new $450 starbucks gift card made from steel. it comes loaded with 400 bucks, cost $50 to make and only 5,000 of them will be sold exclusively through luxury online retailer gilt.com and that sale starts friday in case you wanted to buy one. >> i think i probably will. >> really? >> 50 bucks to make a steel card? >> you get $400 worth of coffee. >> it cost $450. it cost $50 to make the card. >> can you get -- i assume you can get it replenished? >> that's a good question. >> if you want to use it again. >> i'll probably pass. steel card is heavy. >> i was thinking about how much it would weigh in your pocket. >> maybe by u.s.
but without tax rate increases for the wealthy. could this tax issue deadlock the talks? >>> bank of america ceo warns the cliff must get stalled or the economy could be stifled well into 2014. >>> even more dividends pushed into 2012. coach, american eagle moving up and oracle will play out three-quarters of dividends this year. >>> more strength in housing this morning. toll brothers earnings top expectations. we'll begin with the fiscal cliff. governors are set to meet today with the president and congressional leaders. governors are concerned about the impact of deficit reduction measures on their state budgebu. the latest gop offer would overhaul the tax code, raise $800 billion in new revenue but seek $600 billion in health savings, net savings add up to about $2.2 trillion over ten years. boehner called the white house's original offer la la land and it does appear that even though at one point bowles endorsed a blueprint like this, he's trying to distance himself from it right now. >> the president got re-elected. he's claiming he got re-elected in part because he wants to tax that 2
. >> why can't you be a made in america company? >> you know, this i found, as a matter of fact, the engine in here is made in america. and not only are the engines in here made in america, but engines are made in america and are exported. the glass on this phone is made in kentucky. so we have been working for years on doing more and more in the united states, next year, we will do one of our existing mac lines in the united states. >> you can see the entire interview with tim cook tonight on rock center, that's 10:00 eastern time on your local nbc station, but for now investors are watching the market. apple shares 5.31, which is close to the main lows. this is close to the next s support level on the stock and really catching a lot of people by surprise. >> it's a fiscal cliff decline. this is the greatest capital gains generator of our lifetime. i would love to see what the gains are going to be next year. but i would be saying you need to sell it. we have no idea where the capital gains are going to go, we're going to go over the fiscal cliff, what do you have to lose, the rates are go
corporate america have fewer profits. look at oil. >> that's a good barometer. you know, we'll see signs that -- of -- but paychecks, right there, right in your falgs. the business formation is really cut back. because of this. who knows what tax season will be. >> who knows how things are going to be treated. look at the outflows that have happened over the past couple three weeks out of municipal bonds. we don't know, people don't know if there will be the tax exemption or their exemptions will be limited, so it will be a choice between mortgage deduction, or municipal bonds, and, you know, we're seeing the money come out. people are being cautious. i'm also hearing from hedge funds that people are selling their games. they're selling their games and reentering the new cost basis. people are uncertain and they're taking every precaution they can right now. >> like david said, there's also a -- >> you can make a case, things are feeling kind of good, we're not going down, we're actually going down, we're looking at the cliff, but it looks like they're going somewhere. and everybody's go
younger who likes the samsung. but this is america. i know samsung's better, the wireless works better, europe doesn't have the right sink syn apple. >> on that point, some analysts staying firm on their target. topeka with their famous 1,111. brian's not moving. >> no, he's not. katie in her firing of apple as well. >> what was her qualcomm target? remember, my friend, henry had some high-priced targets. they were realized on amazon. that turned out to be one of the great stocks ever. i caution people if you're an analyst, you feel really pressured by the stock. by the stock to be negative. you feel like you've got to find some way to distance myself from apple. their doctor probably had it. but not to be too facetious about it, it's an overowned stock and getting overhanded as it goes down. let's see when the people with big profits are done taking profits. in 2013 you don't want to take a profit necessarily, because you'll have to pay higher taxes. >> speaker boehner offering $1 trillion in revenue enhancements, including higher tax rates on top earners. but spending cuts as well fr
anything like the rest of america. they're very extreme, gerrymandered districts in many case s with ca ca ca cases, and their own personal careers depend much more on how they're perceived back at home. so they don't necessarily care that this is one of the most unpopular congresses in recent history and one of the most unproductive congresses in recent history. they want to stick by their principles. >> it's true. and a lot of them say, eamon, i've been elected to be a check on the president and that's what a lot of this is about. >> right. this is deeply held, fundamental belief on both sides and there's a huge chasm between the two sides on these issues. and somebody's going to be a loser here if there's a deal. somebody's going to be perceived as having gotten rolled and neither side wants to be the party who got rolled here. i think both sides are looking at if fiscal cliff right now and saying, well, we could go over this thing. it wouldn't be the end of the world and that's a very different view in washington than it is on wall street. i can tell you that. >> eamon, thanks. i know
of control, these big disposition of assets happening, corporate america decided we can't wait and not going to wait. >> corporate america decided let's turn those guys off, make some money, do things right. i was looking at the press conference, now come up with a new way to look at press conference. boehner come up, short the s & p. said listen, my advice to you you shouldn't talk there is no deal the other 99%, should say guys, short the s & p. president comes on, short am, right? isn't this what happens? what is playing out. every time one of the guys comes on acre the market goes down. hey, memo to speaker boehner and president obama, could you give us a couple days off so we can actually trade here? >> two straight days of gapes, the s and p fell the most in five weeks in yesterday's session. not like we have been saying the markets want to drift higher, immune to the headlines, at the end of the day you watching this extremely closely in terms of the developments, will we reach that deal, 11 days and counting? >> people pointing to claims this morning, these very co-incident indicator
over in europe. by the way, there are 31 daily flights between the uk and north america. we'll find out exactly what happens in terms of frequent flier redemption possibilities between delta and virgin atlantic. remember, virgin atlantic is not part of any global alliance, not part of the sky team alliance, although many wonder if that's going to change with some time. take a look at shares of delta. richard anderson has had a nice little move here. some people would say, listen, this is all about jet fuel as it has moderated. there's something else at play here. we'll be talking with richard anderson about this at 11:40, first on cnbc. we'll talk to him after the press conference announcing this deal. you don't want to miss what he has to say. this is a ceo, and we've talked about it several times, who is trying to take the steps that will help delta grow in the future. you look at the alliances they're forming, gold in south america, and now with virgin atlantic. they're trying to position delta to have greater access globally for their business customers. that's the key here. >> yes.
. >> and everything's on the table. >> as an outdoorsman, i think we need to completely rethink guns in america. >> i think we need to protect our kids at the school, though. everything's on the table. >> our thoughts and prayers are with the families in newtown. >> thank you both very much. right now it's time for "squawk on the street." good morning. welcome to "squawk on the street." which debuted on cnbc's seven years ago today. happy anniversary to us. i'm melissa lee with carl and jim cramer and david faber live from the new york stock exchange. let's look at how we're setting up after yesterday's rally. particular strength in yesterday's rally. we didn't get housing starts, that's earlier today. as for the picture in europe, really the stand outout here is the euro. greece getting a five notch upgrade at the s&p. our road map this morning starts with gm. government motors no more. the treasury to exit its stake in the next 12 to 18 months, purchasing 2 million shares by the end of this month. >> another challenging quarter for fedex with the blame squarely on sandy. but the stock is up pre-mar
and losers this holiday season? rick beamer is the founder of the america research group, a leading consumer behavior and marketing firm. good morning. >> good morning. thank you very much for having me. merry christmas. >> same to you. we're tossing around all these theories. this is a significant mist here. what's to blame? >> let me cover your point that you just mentioned. number one, only 8.5 consumers said that the fiscal cliff impacted their sales negatively. only 45% of consumers are even following it. now, sandy was another issue. 16% of consumers in the northeast said that sandy impacted them. so that is a significant fark tor. the other issue is, luxury was impacted because this year corporate america held fewer christmas parties than in the past, because they didn't want to be able to broadcast their largess and all their activities. keep in mind, 40% of retailers driven by the corporate christmas parties, when they were cut back, it affected the shoppers who were buying the holiday dresses and jewelry. >> so is this -- i mean, if you're looking for the true source of pain here,
production is increasing, this quarter ford projects it will build 725,000 vehicles here in north america. they are increasing it by another 25,000 next quarter. and one other thing, carl, when we talked about importance of trucks. in november, ford had its best month for the f series since november of 2005 selling 56,000 f series trucks. that's an 18% increase compared to last year. you are really seeing the momentum building in terms of production in truck sales. >> yeah. up a fifth on f series. thank you very much. significant number. >> i bought my f series last year. great car. great job. f-350. not diesel. >> where do you keep that? >> it's part of our inn complex. >> got it. >> i assume we think gm might be good? 20 minute >> i think so. >> let's go to rick santelli in chicago. >> if you want to find out what's going on in the states, bob pisani is very accurately discussed, you have to look toward europe. so let's look toward europe. let's look at 24-hour charts. let's look at a 24-hour chart of the euro currency. started to do much better. you throw up the bund. many areas whethe
in america and you price it off brick, which is just a huge differential, but these guys are just like all the other guys i talk to behind the scenes, great growth, oil is going to up, whether we like it or not but means that eog is a growth stock, 20% growth and deer is was to trade much higher. without a deal, not going to pay up for it. that's what i feel. >> one day later than planned, solar city is going public. elon musk is the chairman, lyndon rive is the ceo. they are going to join us both to discuss that initial public offering. the opening bell minutes away, get ready. another big day of trading ahead. more coming up, "squawk on the street." governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall i
, right, carl? >> at the nasdaq, iraq and afghanistan, veterans of america, a non-profit organization with more than 200,000 members. great to see them today as well. a lot of charity this morning, even on the general news morning shows about facebook. if you haven't heard already, randi zuckerberg posted a pitch of her family, thought it was private, somebody saw it on their feed, put it on twitter, she responded angrily saying it was way uncool and beyond human decency and it has raised, once again this argument, debate about privacy settings and whether or not you should trust social media in general, dennis. >> a big lead-in there such a powerful medium. seeing it, of course, by this very example. right now, people, they don't feel comforcomfortable. but compelled to do it any watch behavior, as much as people talk about they don't like it, people use it putting more and more information online via social networks. i think there's a strange dichotomy about what we think we want and what we actually do. for most people, they don't square but doesn't matter. >> all would be academic
is what dupont is talking about next year. 1.5% growth in north america, 4% in asia pacific. i do agree chain a's definitely a bright spot. that's certainly pretty good. dupont really big company, they operate across chemical business, they operate in electronics, agriculture. remember, housing, they owned the tybeck insulation business, that's been a monster business for them overall. i think china is the bright spot. if you look carefully, they're talking about 8% to 12% decline in revenues in 2013. even though they said we're projecting pretty much the same in 2013, as 2012, the ceo said there are signs of improvement in china. yet their numbers overall this year weren't that good. still, i'd say pretty cautious, hopefully china starting to emerge. again, fourth quarter may be the bottom here for china. guys, back to you. >> totally agree. joy would not be having this move if china were really going to be bad in 2013. it is a unique china play. let's check the bonds and dollars. rick santelli in chicago. rick, take it over. >> all right. well, if we look at interest rates in the 10-y
the reputation for america as someplace that pays its debts hostage is a terrible idea. i'm hoping this will be a good precedent for getting the debt limit issue out of the way. and then there will be legitimate public policy debates about how much and what kind of spending cuts. >> congressman, this is dan greenhaus. let me say, you're hilarious and i'm going to miss you. jonathan tweeted, obama has utterly caved on taxes and inviting future hostage tactics by the gop. does that sound right to you? >> no. in the first place, he has insisted on raising taxes, letting taxes go up, is what we're doing, for people above a certain income level. he does not control the house of representatives. part of this issue, you know, people forget, the american people are the ones who set this stage. they voted for one set of people in 2008, then they changed their minds. at least those who voted, and voted for a different set of people in 2010. we have an unusual constitution. in america you're governed by the results of the last three elections, not just the last election in most other democrac
toss it to bob. bank of america continues its tear up 1.75% new 52-week high in today's session of 1064. on our radar this morning. let's send it over to bob with more on what's moving. >> happy friday. what a week. futures popped ten points on the jobs report even though october was revised downward rather notably. a good open. materials, techs, financials leading the way. i wish i could be more optimistic on the fiscal cliff. a gloomy commentary this morning. expectations are getting narrow. grand bargains are out and the idea of maybe the fallback position is pass a simple tax bill like the one the senate had. the simple bill here. you have tax cuts for middle class but not for people over 250,000. you have dividends and capital gains going to 23.8%. that's the senate bill. and that's it. you leave out estate tax and leave out payroll tax cut and unemployment extension and you leave that out. no delay in the sequestration. this is pretty thin gruel. this is what's tossed about and talked about today overall. is that enough to satisfy the markets? remember, the two requirements, got t
, latin america. four out of the top eight markets of the world, when you asked, do i care what i look like, latin america. the market for tupperware products in latin america, $1 billion, $22 billion in cosmetics. >> how are you going up against the competitor? because most people think avon as the vehicle for cosmetics. >> all of our latin american businesses are way up. they're up double digits. we're pleased with what's happening there. >> okay, rick, huge in france. we know french economy not that good. women want to make some money during this period. france is strong for you. >> we've grown, almost doubled the company in the last five years in france. we're the biggest company of our kind in france. we're the largest seller of cookbooks in france. we had some issues the first two quarters, during the election, as you know, most of the consumers sat on the sidelines. we're starting to see it come back to life again. so we feel very good about france. ditto germany. >> isn't that incredible. >> rick, 52-week high when compared to avon. incredible. thank you so much for joining us.
people will view what's driving the economy in the coming year. bank of america has doubled. worst performer on the dow, hpq. there will be crystallizations of what happened overall. >> the perspective on this whole thing is the s&p 500 is still up 14% year-to-date. despite the extraordinary circumstances, it's been a gang buster year for the markets. unfortunately, the average u.s. investor out there has largely been on the sidelines. money in bonds, money into money market funds continuing to flow in the month of november. unfortunately, even as we do see a very, very good year for the stock market, not many investors are really taking part in this. >> i think we saw finally an outflow for bond funds in well over a year last week. that has been a rarity. we've warned many of our viewers, be careful of the duration risk. we're going into another year where many people are at least saying, okay, is the rally over? the 30-year rally in bonds, is it over? if it is, what is it going to mean? we've had people saying that the last three years. everybody's best trade was to short the lon
Search Results 0 to 19 of about 20